Home International News Toys R Us file for voluntary bankruptcy …

Toys R Us file for voluntary bankruptcy …

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... but stores will remain open

FILE - In this file photo, shoppers shop in a Toys R Us store on Black Friday in Miami. Toys R Us, the pioneering big box toy retailer, announcedit has filed for Chapter 11 bankruptcy protection while continuing with normal business operations. (AP Photo/Alan Diaz, File)

oys R Us, the pioneering big box toy retailer, has announced it has filed for Chapter 11 bankruptcy protection while continuing with normal business operations.

A statement by the Wayne, New Jersey-based company late on Monday said it seek voluntarily relief in the US Bankruptcy Court for the Eastern District of Virginia in Richmond — and that its Canadian subsidiary is seeking similar protection through a Canadian court.

Toys R Us says court-supervised proceedings will help restructure its outstanding debt and reorganise for long-term growth. The company says separate operations outside the US and Canada, including more than 250 licensed stores and a joint venture partnership in Asia, are not part of the filings.

It emphasises that its approximately 1 600 locations remain open, working with suppliers and continuing to sell toys and games.